Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1887-05-01
THE LABOR WORLD.
xrws PROM ALL THE LARGE TRADE AND
INDUSTRIAL CENTBRS.
The Iron Trade IN Most Remarkably Healthy
Condition IN Amaiea-YOlHms Of Money
Increasing aud the Financial Stu
ahOn SrOng-General Notes.
Corrtspondeaee ~ S,nldar Rcqlsler.

- A'Nh ~ pSi CCuts BeSStfner
ingots ~ per cent; Steel ingots "a per cent:
rolled iron % per cent; nails - per cent.
Last year we cut s,l6O,S74 kegs of nails
The blast furnace production was 1866
Ses tons. The steel rail production I ,763,
67 tons Prices for old rails increased
from So 60 S23 during last year. No. I
foundry SIS 50 to SCI. Gray forge iron
Sl6 80 to $50 30 Steel rails from S34 so
to $50 30. Bar iron from 81 So to s. 20.
The importation Of iron and steel during
lsS6 IN net tons was !, 23n, 1913 tons against
6l1,S95 tons for the same time in 1886.
This shows doubling of impOrtations in
one year. OF this amount last year 4O5,-
$50 tons were pig iron, and 2SS, 7G1 tons
were plate iron. The expectation of iron
and steel last year in value was II, $50, Os7
against 22,7l6,OlO in 1883.
The production of iron in the Southern
States last year was $4,000 tons, against
397, 900 in lSSO. OF the total production
of pig iron in the United States last year,
Pennsylvania produced little over half,
and Alabama four and one half per cent
Of the total Last year eighteen new fur
naces were built or rehabilitated, and at
the close Of the year, twenty-three fur
naCes were in course OF erection.
THE NEW RAILROAD FREIGHT RATES.
are still seriously interfering with the de-
VelOpment OF business, through the cOun-
try, but n restoration of confidence is hui
city going on, rs railrOd companies are qui-
city returning to the old freight rates,
which prevailed before the new law went
into effect.
The increase in the volume of currency
i'm the United States during the past eight
months 500, 900, eco sufficient to stimulate
industrial and railroad building activity
throughout the United States. A continued
increase i'm currency is probable, though
not 10 this extent. There is an abundant
supply Of money in financial and industrial
centerS, and in fact offerings throughout
the West and South are in excess Of the
legitimate requirements for good underta.
kings
Building activity has broken out afresh.
both east, northwest and south, and build
erS and architects in all the larger cities Of
thecOuutry are loaded down with contracts,
three-lOurthS of which will engage them
for the next six months.
Labor has been generally advanced, but
outside one OF two cities, there are no SeTi-
Gus labor agitations i'm progress, and none
are probable. The demand for all kinds
of building material, including iron, steel
and nails, is such Us to enable manulac-
turerS to obtain nearly full prices for their
products. Nails have been reduced slightly
in the west, and sell now 1T - p, and in
the east ut - - to s. 80. The bar mills
arc rapidly filling their spring contracts.
Prices are a little easier. The steel rail
mills have contracts on hand for over =
600, 900 tons, and the bridge works are
rapidly filling up with orders, which will
keep them busy till the close OF the sea-
son.
THE IMPORTATION
of foreign material has assumed very large
proportions. Very few new orders going
ont. Ocean freight rates are declining
Large contracts are being placed abroad
and ut home for more tonnage, especially
for lake, river, and coast wise requirements
Iron makers speak of enormous inquiries
for material for ships and boats. Steel
makers speak of the heavy demand for
ears, locomotives, and heavy machinery.
Thedemand for coal is slowly expanding.
The anthracite Combination is still able to
exact high prices. The Atlantic bitumin-
Gus miners will advance prices May the
first.
The lumber manufacturers are every
where busy. The higher freight rates on
long hauls are checking good deal OF the
western business, but receipts along the
Atlantic coast are still heavy.
The financial situation has never been
stronger, and more satisfactory. Banks
are willing to loan money promptly on
fair security and ut mOderateS OF interest.
MultiplicatiOns OF banks and moned ln7
situations Of various kinds for trust pur-
poSrs are evidences Of the increasingly
bealthful industrial condition. Our M
terror commercial relations have been more
or les upset, but troubles OF this kind are
gradually adjusting themselves. The To-
Connective builders report an increased IN
opiry from the railroad Managers. The
nrosecution Of a number Of important en-
gineering enterprises, besides railroad
building, will employ q large amount Of
capital that is nOw'idle.
MORE OR LESS APPREHENSION
i svuresscd by Editors, and writer's, rs to
The nrobahIe damaging effects of the enOr-
mons absorption of so many hundreds Of
millions Of dollars i'm new enterprises, they
also cOmment with apprehension upon the
real estate boom, which is spreading over
the country, and is extending more Ia lhe
southwest than in the east. There Is GER
tainly a rapid appreciation OF real estate,
and there is certainly an unprecedented
absorption of capital in new enterprises,
but there are no just causes for appreheh-
sion.
The announcements OF new industrial
enterprises in the the sOuth are 50 Numerous
as 10 cease 10 he of special interest, to any
eycppfing those personally interested IN
the way of furnishing nsteTial or other
wise An unusually large number OF con-
Germs are 10 be started this and next
montb. among them foundry and machine
sbons. iron and steel works, eaGEWorks,
hardware establishments, wagon works
etc. Despite the abundant evidences oil
industrial prosperity, news GENES from
various quarters of idle labor, starving
WAGES. and poor prospects for the tuture;
vet the aggregate Of these complaints Is
friAipg. compared with the general pros
Deritv. Labor is very scarce IN nearly All
the rolling mills, and here aud there TUT
naees are idle in consequence. Pluck Me
stores still abound in manufacturing ana
mining villages in many parts. Witnai
the complaints made by textile mannf nae
turers concerning narrow margins, the
business must be paying, because IN every
state where the industry has foot ho'0,
new factories and mills are projected ana
old ones extended. A number oI cotton
factories are to be erected in Georgia, De
sides two or three projected west OF the
Mississippi. A new Bedford Mas . cor
poration has Just increased its eaPIt'i sues ~,
$3.50, 600, and will add 10000 spindle
mill.